The pledge is on top of $60 million already committed to upgrading Country Fire Authority (CFA) stations as part of the response to the Victorian bushfires royal commission.
Victorian Premier John Brumby announced the four-year pledge at Lovely Banks, near Geelong, on Wednesday.
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The promise comes after the opposition last week pledged $36 million to build or re-develop 60 CFA stations as part of a broader bushfires package.
Mr Brumby said the government's pledge would see the biggest investment in fire station buildings in the CFA's history.
"We have backed our fire fighters with record resources and equipment and we are making unprecedented investments to support our volunteers," he said.
Victorians will go to the polls on November 27.
